What Is the Average Cost of Solar Panels in Colorado?

Over the years, solar power has grown more popular and cheaper to acquire for many households. In fact, solar produced 115 billion kWh of energy in the United States in 2021, accounting for almost 3% of the country’s total energy generation.

But for homeowners, what is the average cost of solar panels in Colorado? And how long will it take to pay off the installation costs of solar panels? Read on to learn everything you need to know!

What Is the Average Cost of Solar Panels in Colorado?

Thankfully, there are several Colorado solar incentives that help reduce the price of getting solar panels. With these, Colorado is one of the cheaper states in which to buy solar panels. However, there are still several costs of solar in Colorado to consider.

Overall, most homeowners can expect to pay somewhere between $11,000 and $18,000 to get a solar system installed. There are a lot of factors that come into play for this cost, including the size and number of panels, as well as which solar provider in Colorado they go with. Getting a bigger solar capacity will be more expensive to install, as will going with a more expensive company.

Besides the general cost, another way to look at how much you’ll pay is to estimate your cost per watt. Nationwide, the average cost is about $3 per watt to get solar panels installed. However, Colorado is a bit cheaper, averaging somewhere between $2.50 and $3 per watt.

A lot of these costs will depend on the setup you get. The brand of solar panels, whether you put them on tracks or not, and their location on your property will all play a part. But one of the great benefits of solar in Colorado is that these installation costs will be cheaper than elsewhere!

How Long Will They Take To Pay Off?

It’s also good to look at how long it will take you to pay off these solar panels and save money on your energy. This is referred to as the solar payback period, which is the estimated time it will take you to break even on energy costs.

Right now, the average solar payback period is around 11.5 years in Colorado. If you get a good residential solar company that can lower some of these costs, you’ll probably end up paying your solar off in less time.

It also depends on your location, orientation, and physical situation. If you’re in the mountains of Colorado and can only get direct sunlight for half the day, you’re probably not going to get as much solar energy. However, if you live on the high plains and have full sunlight all day long, you’ll probably get quite a bit more out of your solar panels!

Either way, there are a lot of factors that go into how much solar energy you can get. It’s a good idea to talk with a solar installation company to find out the right type of solar fit for your home.

Learn More About Energy and Home Improvements

Now that you know the average cost of solar panels in Colorado, you can better plan how to add solar to your property! Solar panels can be a great investment and will greatly help your home’s energy costs and value.

And if you’d like to learn more about home improvement or investments to help save you money, check out the rest of our blog! We have all sorts of helpful articles to give you great advice on a wide range of topics.